Trading Using Price Action "More than 500 pips a Month "

pgupta1646 · December 24, 2011, 4:08am

Hello Fx7days

Thanks for wonderful postings. We are learning a lot from your higher time frame successful trading startegies. What is your time zone (GMT+/-…)? I am from California, USA (GM-8) and I would like to duplicate your trades on my demo accounts to learn more about your strategies.

Happy Holidays.

Pramod

Fx7days · December 24, 2011, 7:57am

Hi Pramo , My time is GMT +1 hours , expect the signals when the day close or day open

Have a wonderful merry Christmas : )

Fx7days · December 24, 2011, 7:58am

EUR/CAD SL hit -127

I wish Everyone a Wonderful Merry Christmas , Get Fattttttttt

pgupta1646 · December 24, 2011, 4:44pm

Hi Fx7days

Do you have similar statements for Sept., Oct., Nov. and Dec.?

With regards,

Pramod

Fx7days · December 29, 2011, 10:50am

you can check all the statements on my Twitter or facebook , Trade by trade search for FX7days on twitter or facebook

thanks

Fx7days · December 29, 2011, 10:51am

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basilnadeem · December 30, 2011, 4:55am

HI,

I am new in this blog. your strategy looks good. can you please tell me what colour are you using for your 50 , 100 and 200 SMA. you have 4 MA on the chart i.e Green , purple ,red and blue can you please explain.

thanks

Fx7days · January 3, 2012, 8:15am

Red 50 SMA
Green 200 SMA
Purple 100 SMA

and forget the blue one i dont use it always its 144

Case 1

I use the MA’s as Dynamic support and resistance and on the bigger time frames like the weekly and the monthly they work great as support and Resistance but you have to wait for reversal signal like Candle pattern when the price reach them .

Case 2

If the price is away from them and i entered a trade i use them as target point

Case 3

use them as john murphy said Golden crosses and Dead crosses

If the small ma cross the bigger ma from up to down this indicates that the price could change the trend from up to down and the opposite from down to up .

hope that helps

Fx7days · January 3, 2012, 8:17am

Long GBY/JPY @ 119.65 T1 120.00 T2 120.40 T3 121.00 SL 118.85 #fx #forex #gbpjpy #gbp #jpy #bloomberg

basilnadeem · January 3, 2012, 8:55am

Many thanks

basilnadeem · January 3, 2012, 6:52pm

hi,

I was looking for a strategy on daily charts like you and happy to be here. I am a newbie and learning.

your charts looks very crowded and person like me find it bit confusing. would it be possible to send some screen shots or explanation on your chart set ups. The one you have at the beginning 0f your thread is good but it is bit may be confusing for a person like me who is eager to learn.

here is what I need help.

SMA on your chart- what do you look on daily and weekly charts.

high and lows on daily and weekly- what do you look for on your charts

how do you combine S and R with the SMA.

I know you have this explained in your blog with pictures but I am finding it difficult all in one chart at the same time

thanks in advance.

jayjonbeach · January 5, 2012, 3:57am

Well it looks like a nice system trading the patterns and such, probably some people are waiting for that short English You tube video you promised!

Thanks for posting all your trades and the system

Fx7days · January 8, 2012, 9:21pm

Short EURCHF @ 1.2120 SL 1.2210 T1 1.2000 T2 1.1920 T3 1.1800 T4 1.1700

If the low of the last 3 month is broken next target will be at least 1.1920 , the pair was in range since 3 month and there is down trend line too , just looking for breaking the low we will have good move .

Ok the explanation of how i use the moving average the best example is here , the 50 moving average working here as good resistance especially its on the weekly "bigger time frames are always trusted ", plus there is down trend line and the price stayed under the last broken low and now is back testing so this low works as resistance too .

Now if you go to the smaller time frames like daily or 4 hours chart you will see that there is a box range for the last 3 month which is the 3 monthly candles , if this range is broken the price will continue moving down and this shows me that the price could continue moving to the next support which is the Fibonacci levels 38% and 50 % .

the blue dashed line is the weekly open if the price stays under it that means its high probability that the price will stay down for this week at least

Hope that helps

bhops · January 8, 2012, 10:05pm

Good luck with this trade. This pair looks to have been in a stingy little range since the government intervention back in September.

I hope it breaks out for you.

pgupta1646 · January 8, 2012, 10:48pm

Fx7days

I was reading your post on Twitter that you closed this trade with -35 pips. Your TP1 (120.00) was hit I think and I am wondering how did you lose 35pips?

With regards.

Pramod

Fx7days · January 9, 2012, 8:13am

Because i write the result of my trade to be honest with everyone .

Normally i close half of my position when i hit target one and move my sl to breakk even but i didnt this time , because of this i closed on -35

Fx7days · January 9, 2012, 8:49am

Long GBPUSD @ 1.5461 T1 1.5500 T2 1.5550 T3 1.5600 T4 1.5650 SL 1.5370 pound is on good support and above the Weekly open , if the price stays above the weekly open in the 4 hours chart this could indicate that the price could continue going higher plus there is a very good support on the daily and on the 4 hours chart we can bank at least 70 to 120 pips on this trade

Fx7days · January 9, 2012, 8:26pm

#EURCAD short @ 1.3030 T1 1.2985 T2 1.29 T3 1.28 SL 1.3155

Fx7days · January 10, 2012, 3:44pm

Close gbpusd +24 pips

jayjonbeach · January 10, 2012, 4:34pm

So what happened on this trade, no targets were hit and your SL wasn’t either unless you moved it up?

So far its continuing to move up